The Assam Finance Act, 1974

THE ASSAM GAZETTE, EXTRAORDINARY, MAR. 30, 1974 275 
------- --------- -
The 29th Mar ch 1974 
No.LJL.171/74/2.-Th e following Act of the Assam Legislative Assembly 
• which received the assent of the Governor is hereby publi1hed for general 
information. -
ASSAM ACT XIV OF 1974 
(Received the assent of the Governor on the 29th March, 1974) 
THE ASSAM FINANCE ACT, 1974 
An 
Act 
to fix the rates of Assam Agricultural Income­
tax and the Assam Purchase-tax for the financial 
year, 1974-75. 
Preamble. Whereas it is expedient to fix tl1e rates at 
which the Assam Agricultural Income -tax and the 
Assam Purchase-tax shall be levied and charged 
under the Assam Agricultural Income-tax Act, 1939 
and the Assam Purchase-Tax Act, 1967 for the 
financial year 1974-75; 
Short title, 
extent and 
commence­
ment. 
Rates of 
Agricultural 
Income-tax. 
It is hereby enacted in the Twenty-fifth Year 
of the Republic of India as follows :-
I. (1) This Act may be called the Assam Finance 
Act, 1974. 
(2) !t extends to the whole of the St11.te of 
Assam. 
(3) It shall be deemed to have come into 
force on the first day of April, 1974. 
2. The rates of Agricultural Income-tax for the 
year beginning on the 1st April, 1974 shall, 
for the purposes of sections 3 and 6 of the 
Assam Agricultural Income-tax Act,1939, be the 
rates given below :-
Assam 
Acts IX 
of 1939 
and XIX 
of 1967. 
276 THE ASSAM GAZETTE, EXTRAORDINARY, MAR. 30, 1974 
A. In the case of every individual, Hindu 
undivided or joint family, firm and other 
association of persons (other than comp anies). 
(a) on the first Rs. 1,000 of 
total income. 
(b) on the nex t Rs. 2,500 of 
total income. 
(c) on the next Rs. 2,500 of 
total income. 
(d) on the next Rs. 2,500 of 
total income. 
(e) on the next Rs. 2,500 ofi 
total income. 
(f) on the next Rs.2,500 of 
total income. 
(g) on the next Rs.5,000 of 
total income. 
(h) on the next Rs.30,000 of 
total income. 
(i) on the next Rs.50,000 of 
total income. 
(j) on thenextRs.l,00,000 of 
total income. 
(k) on the balance of total 
income. 
Rates. 
Nil. 
Five paisc 1n 
th e rupee. 
Nine paise in the 
rupee. 
Fou1 (CCh paise m 
the rupee. 
Seventeen paise in 
the rupee. 
Twenty-one paise in 
the rupee. 
Twenty-nine paise in 
the rupee. 
Thirty-nine paise in 
the rupee. 
Forty-seven paise in 
the rupee. 
Fifty ··nine paise In 
the rupee. 
Sixty-two paise · m 
the rupee. 
B. In the case of every company,-
(a) the total income of 
which does not exceed 
Rs.1,00,000, on the 
whole of total income. 
the total income 
of which exceeds 
Rs.1,00,000 but does 
• not exceed Rs.2,00,000, 
on the whole of total 
in come. 
Forty-seven paise in 
the rupee. 
Fifty-nine paise iJ, 
the rupee. 
,.. 
THE ASSAM GAZETTE, EXTRAORDINARY, MAR. 30, 1974 277 
Rates of 
Assam Pur­
chMe Tax. 
(c) the total income Sixty-two paise in 
the rupee. of which exceeds 
Rs.2,00,000, on the 
whole of total income. 
Provided always that,-
(i) no Agricultural Income-tax shail be payable 
on a total agricultural income which does 
not exceed Rs.5,000 ; 
(ii) in respect of paragraph A, the Agricultural 
Income-tax payable shall not exceed half the 
amount by which the total agricultural 
income exceeds Rs.5,000 ; and 
(iii) in respect of paragraph B, the Agricultural 
Income-tax payable shall not exceed the 
difference between the total agricultural 
income and the following limits:-
(a) rupees fifty-three thousand increased by one 
per cent of the excess of the total agricul­
tural income over Rs. 1,00,000 in the case 
of every company the total agri cultural in­
come of which exceeds Rs. 1,00,000 but does 
not exceed Rs. 2,00,000; 
(b) rupees eighty-two thousand increased by two 
and half per cent of the excess of the total 
agricultural income over Rs. 2,00,000 in the 
case of every company the total agricultural 
income of which exceeds Rs. 2,00,000, 
3. The rates at which the tax shall be levied andx~s~fi~~t 
collected on the purchase of the items of the 
Schedule under the Assam Purchase Tax Act, 
1967 shall be as follows:-
in respect of items 1, 2 
and 3. 
in respect of item 4 
Three paisc per rupee 
value of the price at 
which the taxable 
goods are purchased. 
Two paise per rupee value 
of the price at which 
the taxable goods are 
purchased. 
Md. SAADULLAH, 
Joint Secretary to the Govt. of Assam, 
Law Department. 
Gauhati.-Printed and Publish ed by the Joint Superintendent, Assam Govt· 
Press, (Ex-Gazette) No.105-l,457+200-30-3-74. 

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